Hyperscaler 400 MW capacity lease - letter of intent
Company: Applied Digital - Project: Ellendale
The claim, verbatim
Applied Digital has executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, including the 100 MW HPC Ellendale facility and additional facilities in Ellendale, North Dakota
Source (primary)
ARS (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “The Company has entered into exclusivity and executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, inclusive of our current 100 MW facility and two forthcoming buildings in Ellendale, North Dakota”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The 10-K states the company executed a letter of intent with a US-based hyperscaler for a 400 MW lease covering its 100 MW facility and two forthcoming buildings in Ellendale.
Confirmed in the source:
- Applied Digital executed a letter of intent with a US-based hyperscaler
- The letter of intent covers a 400 MW capacity lease
- The lease includes the current 100 MW Ellendale HPC facility
- The lease includes two forthcoming buildings in Ellendale, North Dakota
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001493152-24-042124/ars.pdf) in full (721,673 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms ARS
Quote: “The Company has entered into exclusivity and executed a letter of intent with a US-based hyperscaler for a 400 MW capacity lease, inclusive of our current 100 MW facility and two forthcoming buildings in Ellendale, North Dakota”